Entrepreneur seeks low interest loans for budding colleagues

Ajayi, who is the Managing Director, U & I Foods and Bakery, told the Nigeria News Agency on Tuesday in Lagos that low interest loans would attract more budding entrepreneurs into small-scale businesses.

According to him, Federal Government needs to encourage young entrepreneurs to reduce the number of jobless youths in the country.

Ezenwa noted that although SMEs were classified as belonging to the informal sector, government should turnaround the sector by providing adequate funding to the sector to make it formal.

“Banks and corporate bodies have failed us. We need help for our tailors, vulcanisers and shoe-makers, who are really trying to survive this difficult period.”

The artist advised Nigerians to take a cue from the military establishment, which she said, was always preparing and planning for wars ahead by putting contingencies into consideration.

“Nigerians must begin to plan ahead for occurrences like the coronaviruspandemic. We should always put contingencies into consideration.”

She also spoke on the need for Nigerians to work together in raising entrepreneurs, who would use their skills to re-build the economy after the COVID-19 crisis.

Ezenwa said that while the pandemic had rendered many Nigerians confused, a post–pandemic prosperity mindset must be embraced to ginger the populace to become more creative.

According to her, the outbreak of the virus has also created business opportunities for young people to latch on.

She recommended that individuals, business entities, religious bodies and other entities must collaborate at this critical period to save the economy from entering recession.

“The country is faced with economic, health and now sexual pandemic. People are confused as the order of activities have been altered but we can still become creative, to bring out the best from our economy.

“I urge all Nigerians to develop entrepreneurship spirit, develop courage to succeed, be creative, be good risk-takers and be proactive to handle the negative impact of the pandemic on businesses.

“We need to operate at the speed of relevance so that post COVID-19 will be prosperous for us all.’’

Adebisi stated that the country currently have a population of between 15 and 35 that comprises about 70 per cent of the entire population, who are supposed to be in active production.

”So, that is what this university believes in, and that is why we are very strong in promoting entrepreneurship education, just like the institution’s Business School (ULBS).

”The university’s entrepreneurship education platform is coming on board before the end of the year.

”We are expecting that by the time they do the next ranking, we are likely going to be number one in Africa.

”The reason being that we are now going to give direct entrepreneurship education access to the 57,000 students across board which include both the undergraduates, the Postgraduates, every year and every hour.

”Besides that, we are going to start talents hunting for enterprise creation.

“That is whereby every of our students, be it undergraduate or postgraduate that can create enterprise on campus, which we call Campus Startups, is going to be supported by management and will be launched.

“We are also going to get companies to infuse money into such startups,” he explained.

According to Adebisi, entrepreneurship today is almost everything, because citizens are now in a nation that needs to be extremely productive, with everyone being into production, to be able to be self-sustaining.

He noted that entrepreneurship was the only thing that could give everyone the opportunity to be able to be creative and innovative.

“All on their own, using their own ideas for profitable ventures, without necessarily hunting for jobs,” the director said.

He said that in a bid to further promote entrepreneurship drive among students, the university had also made it compulsory in all the units of the business school, be it Executive MBA in Human Resources, Finance and others.

He said the vice-chancellor had always insisted that the key thing the institution must be known for, was entrepreneurship development.

Further on the recent ranking of the university, Adebisi described the development as one of the best thing to have ever happened to the institution.

”As we speak now, we have been ranked the third best entrepreneurship oriented university in Africa.

“And, this is the first time any Nigeria university will be so ranked by Forbes, in this kind of category.

”So, that is to tell you that what UNILAG is now known for today is that any graduating student from the institution is to earn two things: a degree and at the same time, extreme knowledge in entrepreneurship.

”Such graduate is also likey to have an opportunity of creating his or her own enterprise before leaving the university.

”So, today we are the third best in the entire Africa, and this is what has been the drive by the management of the institution.

“What is core to us is entrepreneurship ever since the Prof. Ogundipe-led management came on board, two and half years ago.

”We really want to salute all those who made the ranking possible, the students, staff and the entire management,” he said.

The director said that with the planned launch of the online entrepreneurship education platform, the institution would soon get to its much desired height, not just in the Africa, but the world at large.

These stellar projects by U.S. flagship enterprises, happening while the coronaviruspandemic is still raging across the globe, and the clamoring for decoupling with China has once again captured headlines, have given off a clear signal that global investors remain confident in a promising future of China even at this unprecedentedly challenging and uncertain time.

Perhaps the most important source of that continued confidence comes from China‘s forceful epidemic response and well-managed post–pandemic economic rehabilitation.

Since the outbreak, China has taken some very decisive containment steps, and effectively put the disease under control. This significant progress has allowed Beijing to roll out a raft of measures to bring production back on track, and reopen businesses. As a result, recovery is underway, and China is getting back on its feet steadily.

Workers are busy on the production lines at the workshop of Dongfeng Passenger Vehicle Company in Wuhan, central China‘s Hubei Province, March 24, 2020. (Xinhua/Xiao Yijiu)

Workers are busy on the production lines at the workshop of Dongfeng Passenger Vehicle Company in Wuhan, central China‘s Hubei Province, March 24, 2020. (Xinhua/Xiao Yijiu)

Figures from China‘s National Bureau of Statistics showed on Wednesday that profits from China‘s major industrial firms in April edged down 4.3 percent, recovering from the 34.9-percent drop registered in March.

China‘s drive to get back to normal is undoubtedly a shot in the arm to help provide urgently needed medical supplies like masks and protective suits to the world, stabilize global supply chains, and shore up heavily-hit manufacturing industries worldwide and international trade.

China-skeptics in the United States who have vowed to reshore already outsourced manufacturing jobs need a grip on reality: existing global supply chains are a natural, decades-long progression jointly shaped by a variety of factors like operation costs, industrial capabilities, and a sufficient and skilled workforce.

China still remains home to the world‘s most attractive and populous consumer market. Last year, consumer spending contributed 57.8 percent to China‘s overall economic growth. With 400 million middle-income earners, greater potential for consumer products and public services awaits to be tapped.

Over the decades, encouraged by the massive and fast-growing Chinese consumer markets, foreign companies have been shifting a model of “made in China” to “made for China.”

Moreover, the Chinese government’s persistent pledge to create a more friendly business environment, for stronger protection of intellectual property rights and to bolster global free trade and multilateralism has made its domestic markets more attractive. The foreign investment law that took effect at the start of the year is a fine example of China‘s commitments.

According to a survey by the American Chamber of Commerce in Shanghai and PwC China in March, over 70 percent of U.S. companies said they had no plans yet to relocate production and supply chain operations or sourcing outside of China.

During a press conference after the annual “two sessions” on Thursday, Chinese Premier Li Keqiang highlighted the importance of openness in stabilizing industrial and supply chains, saying that China will further enhance cooperation with the rest of the world and introduce more measures for further opening-up.

Indeed, the sudden outbreak of the coronavirus this year has prompted many political leaders and business titans worldwide to revisit the highly interconnected global supply system and prescribe remedies.

Looking ahead, they ought to understand that although the virus has affected the worldeconomy in a variety of ways, it will not stop or reverse globalization. China, with its strong commitment to opening-up and cooperation, as well as its unique place in this deeply interwoven global economy, will always remain deeply relevant. ■

Interview: Jet Li vows support to entrepreneurship dev’t in Africa

Renowned film actor, director and martial artist Jet Li on Thursday vowed his support to the efforts of entrepreneurial development in Africa.

Jet Li stressed the need to facilitate situations and create a conducive environment for African entrepreneurs, pointing out that platforms such as the Africa Netpreneur Initiative (ANPI) play an important role in entrepreneurship development on the continent.

In an interview with Xinhua, Jet Li expressed hope that Africa would see more entrepreneurs in the future, and such initiative as the ANPI reaches the youth and is exploited effectively on the continent. The ANPI has been launched by Chinese e-commerce giant Alibaba’s founder, Jack Ma, being his foundation’s flagship philanthropic program in Africa.

Jet Li was a cheerleader during the finale competition of the 1st edition of Africa Netpreneur Prize held in Accra, Ghana in November 2019. The interview was made as preparations for the 2nd edition of the Africa Netpreneur Prize are underway. The interview was made through Internet voice call.

Over a ten-year period, the ANPI plans to recognize 100 African entrepreneurs and commit to allocating 100 million U.S. dollars in grant funding, training programs, and support for the broad African entrepreneurial ecosystem.

The initiative annually accepts applications from entrepreneurs of all African countries, regardless of the sector. Ten finalists will compete in a televised finale named Africa’s Business Heroes Show and win prize from the Jack Ma Foundation.

Li said that entrepreneurship is the future of Africa, which should be supported in different aspects.

Reiterating that African entrepreneurs should be provided with such platforms to grow, Li said he would help enhance the ongoing entrepreneurial initiatives on the continent.

“My first visit to Africa was in 1977. The second time I went there was last year for the first final competition of the Africa Netpreneur Prize Initiative…entrepreneurship is the future of Africa’s young people. African entrepreneurs should become the heroes who create jobs,” said Li during the interview.

“I should do something for Africa…I will go to Africa again, and want to see African entrepreneurs get not only the financial award, but also advice from successful predecessors. That can be even more valuable,” he said.

According to the ANPI, application for the 2020 competition is going on with already 15,000 applicants. Ten finalists will be selected from among those who complete the application process, and share an enlarged prize pool of 1.5 million U.S. dollars this year.

Sen. Tinubu urges graduates to acquire entrepreneurial skills

Sen. Oluremi Tinubu, representing Lagos Central Senatorial District, has urged graduates to acquire entrepreneurial skills to be able to compete in the labour market, especially during the postCOVID-19 period.

Tinubu gave the advice at the closing ceremony for the Work Experience Programme (WEP) organised for graduates in her constituency.

The News Agency of Nigeria reports that the programme started in November 2019 with no fewer than 260 graduates across the constituency who underwent the internship programme.

The exercise was conducted with the purpose of empowering youths with requisite work ethics, inculcating customary code of polite behaviour and promoting positive workplace culture.

They empower youths in the Lagos Central Senatorial District via ensuring employability and adequate preparation for the labour market.

Tinubu, represented by Mr Wahab Alawiye-King, one of the facilitators at the programme, said apart from acquiring certain employability skills, graduates needed self-confidence to succeed in the job market.

The senator said that the programme was designed to make the participants ready for the labour market, which she said was highly competitive and hostile.

“We are in the era of working from home and as such, we must acquire extra skills in order to meet up with the challenges of Post COVID-19,” Tinubu said.

According to her, employers are looking beyond degree holders in today’s dynamic world, noting that most companies want graduates with skills that match available jobs.

She said that graduates need to acquire digital skills to be able to compete in the labour market.

“Post COVID-19 has opened our horizon and expanded our scope, and as a result, ability to adapt and adopt in the work environment is of essence.

“So far, 245 interns were involved in the exercise and 185 have been posted to different organisation, both the government and private establishments,” Tinubu said.

She said that conmmunication skills, leadership skills, interactive skills, analytical skills and IT proficiency were parts of the major requirements needed by today’s employers, urging graduates to improve themselves.

”We always say there is rise in the unemployment rate that graduates left schools for so long and they are still at home.

”But, the reality is that the jobs are not there; and many graduates do not have the skills and competencies to compete and pick up the few jobs.

”So, our young people must know that to get a job, they have to be ready. They need to acquire the right skills.

”We are in a digital economy; l urge them to engage other people and strive to acquire skills that could get them the better opportunities of being employed,” she said.

Tinubu said she conceived the idea of WEP to equip graduates with relevant skills to enhance their employability in the labour market and make them have practical work experience.

“They undergo training under the programme in government and private establishments.

According to her, the programme is committed to the wellbeing and welfare of the people of her constituency.

COVID-19: NGO distributes palliatives to entrepreneurs in Ilorin

An Ilorin-based Non Governmental Organisation (NGO), Tamirah Well-being Initiative, has distributed food items to enterpreneurs in Ilorin to cushion the effects of the lockdown aimed at curtailing the spread of the COVID-19.

The founder of the NGO, Mrs Rukayat Yahaya, said at the presentation of the palliatives in Ilorin that the gesture would go a long way in assisting beneficiaries.

She said her desire to assist entrepreneurs in the state was borne out of the zeal and determination to mitigate the negative impacts occasioned by COVID-19.

Yahaya, who is the CEO of Tamirah Digital, commended the state government, especially, the Technical Committee on COVID-19, for supporting the NGO with 200 bags of 5kg rice, 200 cartons of spaghetti and 25 bags of sugar.

She said that no fewer than 1,120 business owners had registered online to benefit from the NGO’s initiative.

The NGO, she added, gave palliatives to no fewer than 200 people in the first and second phases of the initiative.

Yahaya solicited for the continuous assistance of the state government in the area of loans and special grants for entrepreneurs in order to surmount the challenges of a post–COVID-19 era.

Earlier, the state Commissioner for Local Government and Chieftaincy affairs, Hajia Aishat Ahman-Patigi, had commended the NGO for its gesture.

The commissioner explained that government alone could not bear the responsibility of providing for the needy and called for more support from NGOs.

She added that government would be ready to work with responsibile NGOs to move the state forward.

Ahman-Patigi urged small business owners not to see the COVID-19 as a threat to their businesses but rather as an opportunity to showcase their entrepreneurial skills and potentials

Some of the beneficiaries, who spoke to the News Agency of Nigeria , expressed gratitude to the NGO and urged government at all levels to assist them with grants.

NABDA proposes viable agro-entrepreneurship for post-COVID-19

The National Biotechnology Development Agency (NABDA), said it would support the Federal Government’s job creation policy for 100 million people, through economically feasible agro-entrepreneurship, for a post– COVID-19 era.

“Bt cotton seed will be produced in commercial quantities and distributed to farmers to enable them to produce bt cotton lint massively, to support Nigerian Textile Mills and ginneries,’’ he said.

The director-general noted that massive production of quality cotton lint would revive textile industries in Nigeria, with the capability to create one million jobs, and an average return on investment of three years.

Similarly, the professor said that the agency would commercialise the maruka (pod borer) resistant biotech (bt) cowpea to farmers.

“This will help to enhance food security in Nigeria and increase export income from the commodity, with three years average return on investment,’’ Akpa said.

He noted that this medium scale operation had the potential for creating 100,000 jobs, with an average return on investment of three years.

According to the director-general, development of commercial integrated aquaponics facility for production of fish, fish feed and vegetables, is another activity the agency plans to embark upon.

He stated that the facility was intended for use intensively for the production of fish and vegetable in confinement, as well as import substitution for fish and exotic vegetables.

Akpa said that the medium scale operation was capable of creating 50,000 jobs, with average return on investment of three years.

He noted that the agency would also develop commercial hydroponic facility for the production of improved ruminants including cattle, sheep and goats, and bio-products such as meat, milk among others.

“The facility is intended for use in fodder production for intensive ruminant farming in confinement, for meat and milk production.

“It shall also be used for import substitution for fodder, milk and meat as well as elimination of community clashes over animal feed resources.

“This also has potential of creating 50,000 jobs, and two and a half years average returns on investment,’’ he said.

Akpa hinted on the development of commercial aeroponics facility for the production of disease-free and high-yielding yam seedlings and seeds, bio-fertilisers, bio-fungicides and bio-pesticides.

The professor noted that the facility was intended for use in advanced yam production, for commercial scale agriculture, to meet foreign and domestic markets.

According to him, it will also meet the industrial demand for quality yam seed and seedling, as well as other high grade farm inputs.

“This has the potential of creating up to 100, 000 jobs, with an average return on investment of two years.”

Akpa said the agency would develop facilities for vegetables and fruit storage, processing into concentrates and concentrate storage and marketing.

“”The facility is intended for the deployment of biotechnology in utilisation and management of in-season and off-season Nigeria’s abundant fruit and vegetable resources

He said the agency was planning to develop commercial scale facility for the production of bio-energy digester that had been designed, developed and patented in Nigeria, for use in producing electricity.

Akpa said the facility could also be used for domestic cooking and bio-fertiliser, for crop production.

According to him, the facility is intended for the production of biogas digester units, that could be sold to households, markets, farms and restaurants operators among others, to produce biogas for domestic heating and electricity.

“It will also support energy access for all, especially in areas not covered by the national grid (off-grid), reduce indoor pollution and minimise deforestation, from use of inappropriate energy sources such as wood.

“This has the potential of creating 50,0000 jobs, with an average returns on investment of three years,’’ Akpa said.